Allstate Corp Boosts Stake in Qualcomm Incorporated $QCOM

Allstate Corp lifted its stake in shares of Qualcomm Incorporated (NASDAQ:QCOM) by 108.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 80,950 shares of the wireless technology company’s stock after buying an additional 42,056 shares during the quarter. Allstate Corp’s holdings in Qualcomm were worth $13,846,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of QCOM. Cloud Capital Management LLC acquired a new stake in Qualcomm during the third quarter worth about $27,000. Richardson Financial Services Inc. raised its stake in Qualcomm by 90.9% during the fourth quarter. Richardson Financial Services Inc. now owns 168 shares of the wireless technology company’s stock worth $29,000 after acquiring an additional 80 shares during the period. Torren Management LLC acquired a new stake in Qualcomm during the fourth quarter worth about $29,000. Glass Jacobson Investment Advisors llc raised its stake in Qualcomm by 113.5% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 190 shares of the wireless technology company’s stock worth $32,000 after acquiring an additional 101 shares during the period. Finally, Board of the Pension Protection Fund acquired a new stake in Qualcomm during the fourth quarter worth about $34,000. Institutional investors own 74.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on QCOM shares. Weiss Ratings restated a “hold (c)” rating on shares of Qualcomm in a research note on Friday, March 27th. HSBC started coverage on shares of Qualcomm in a research note on Friday, May 8th. They issued a “buy” rating on the stock. Bank of America started coverage on shares of Qualcomm in a research note on Tuesday, March 10th. They issued an “underperform” rating and a $145.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $190.00 price target on shares of Qualcomm in a research note on Thursday, April 30th. Finally, Oppenheimer lowered shares of Qualcomm from a “market perform” rating to a “market perform” rating in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, Qualcomm has a consensus rating of “Hold” and an average target price of $181.79.

Insider Buying and Selling at Qualcomm

In related news, EVP Akash J. Palkhiwala sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $211.90, for a total transaction of $529,750.00. Following the completion of the sale, the executive vice president directly owned 28,184 shares in the company, valued at approximately $5,972,189.60. This trade represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Patricia Y. Grech sold 829 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $201.77, for a total transaction of $167,267.33. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 19,306 shares of company stock valued at $3,435,583. 0.05% of the stock is currently owned by corporate insiders.

Qualcomm Stock Performance

Qualcomm stock opened at $238.16 on Tuesday. The firm has a 50 day simple moving average of $156.96 and a 200-day simple moving average of $159.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.37 and a quick ratio of 1.61. The stock has a market capitalization of $251.02 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 29.50 and a beta of 1.49. Qualcomm Incorporated has a 12-month low of $121.99 and a 12-month high of $247.90.

Qualcomm (NASDAQ:QCOM) last posted its quarterly earnings data on Wednesday, April 29th. The wireless technology company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.09. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.59 billion. Qualcomm had a net margin of 22.31% and a return on equity of 42.11%. The business’s revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm posted $2.85 earnings per share. Qualcomm has set its Q3 2026 guidance at 2.100-2.300 EPS. As a group, equities research analysts expect that Qualcomm Incorporated will post 7.99 EPS for the current fiscal year.

Qualcomm Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a dividend of $0.92 per share. The ex-dividend date is Thursday, June 4th. This is a positive change from Qualcomm’s previous quarterly dividend of $0.89. This represents a $3.68 dividend on an annualized basis and a yield of 1.5%. Qualcomm’s payout ratio is 38.70%.

Qualcomm announced that its Board of Directors has authorized a share buyback program on Tuesday, March 17th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the wireless technology company to purchase up to 14.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Qualcomm Company Profile

Qualcomm Incorporated is a global semiconductor and telecommunications equipment company headquartered in San Diego, California. Founded in 1985, the company is known for its development of wireless technologies and for playing a central role in the evolution of digital cellular standards, including CDMA and subsequent generations of mobile standards. Qualcomm’s business combines the design and sale of semiconductor products with a patent licensing program for wireless technologies and related intellectual property.

The company’s product portfolio includes system-on-chip (SoC) platforms marketed under the Snapdragon brand, cellular modem and RF front-end components, connectivity solutions for Wi‑Fi and Bluetooth, and processors and platforms aimed at automotive, IoT, networking and edge-computing applications.